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The South Korean government is backing a $2 billion bailout of the country’s biggest coal plant manufacturer, despite promises to end coal financing. State-owned Korea Development Bank (KDB) and the Export-Import Bank of Korea, the country’s export credit agency, have agreed the package of...

(OECD Watch, Amsterdam, 8 April 2020) On 17 March 2020, the Korean National Contact Ppoint accepted a complaint against KEXIM, the export credit agency (ECA) of South Korea, for financial support of harmful palm oil production practices in Indonesia. This is a significant step, as it is the...

(Business Korea, Seoul, 23 December 2019) The Korea Export-Import Bank announced on Dec. 22 that it will provide US$375 million in loans to Daewoo Engineering & Construction’s LNG plant project in Nigeria. For the first time as a Korean company, Daewoo E&C won the LNG plant as a prime...

(Korea Herald, Seoul, 7 October 2019) While South Korea has vowed to phase out fossil fuels and turn to clean energy to combat climate change and air pollution, it is supporting coal-fired power plants elsewhere - like in Indonesia. The government is virtually contributing to environmental...

(Eco-Business, Singapore, 25 September 2019) Three months ago, 11 international banks including Citi, Société Générale and ING signed a framework to promote responsible ship finance called the Poseidon Principles whose framework will tie shipping finance to climate targets that are in line with...

(Los Angeles Times, Suralaya, 13 May 2019) In the last-ditch global battle against climate change, China, Japan and South Korea have joined other industrialized nations in promising to reduce their use of fossil fuels. Yet even as they take steps to promote renewable energy at home, these three...

(Reuters, Manama, 26 February 2019) Bahrain is talking to U.S. oil companies with shale oil expertise about developing a huge oil and gas field discovered last year, and hopes to have an interested company by the end of the year. Oil Minister Al Khalifa also said state-run Bahrain Petroleum...

(Macauhub, Macau, 11 January 2019) The government of Mozambique has been involved in the last few weeks in intense negotiations with seven countries to secure funding for one of its largest natural gas projects and overcome scepticism about whether it will honour its debt commitments. The...

(Korea Times, Bangkok, 9 September 2018) [translation] At the UN office in Bangkok, Thailand, where negotiations were held to prepare detailed guidelines on the implementation of the 2015 Paris Convention on Climate Change, there were dozens of Asian environmental group activists including...

(Australia Financial Review, Melbourne, 8 May 2018) In the overall rankings, Australia is defined as an over-performer, or a country that punches above its economic and military strength. Indeed, we are ranked third in the over-performer stakes behind Japan and Singapore, coming in one place...

(Korea JoongAng Daily, Seoul, 3 May 2018) As relations between the two Koreas warm, Seoul is gearing up to create new economic ties with Pyongyang, according to the South’s top economic official. According to Kim Dong-yeon, South Korea’s minister of strategy and finance, the so-called inter-...